Livepeer co-founder Eric Tang cites ConsenSys as an example of early coin holders building dedicated commercial ecosystems around public blockchains.
Assertion Contradicted
Tang: Livepeer is the only dApp video streaming solution in 2017
“If you are Creating a decentralized application, and you want to add video streaming to the application, there is right now really no solution to do that, because all the video streaming solutions are centralized solutions, and we are kind of, we're kind of th…”
Insight
Tang: Governments can easily block centralized video services like Wowza
“If you want to build in video streaming into those applications you would have to use something like LiveSphere. Versus, wow, you couldn't use Wowza. Yeah, because the government will be able to figure out the IP of Lauza and block the service.”
Insight
Tang: Token incentives align users to evangelize and grow network value
“The whole idea of the blockchain is that the participants are actually the stakeholders, right? So in a traditional application, if you use something like Facebook live, you know, you are used, you are a user of Facebook live, but that's it, right? As much as …”
Insight
Tang: Bitcoin forks will fail because miners lack incentives to switch
“The reason they will not they will not be successful is because the Bitcoin blockchain now is so big that there are so many miners on the network that there is essentially no incentive for them to switch to a much smaller, newer network.”
Prediction Held up
Tang: Bitcoin and Ethereum will coexist and serve distinct use cases
“I think all of these blockchains will exist, will coexist. So it's not like Ethereum is going to exist and Bitcoin is going to go away. My personal belief is that Bitcoin has its use case, and so does Ethereum.”
Insight
Tang: Excess mining capacity lowers decentralized infrastructure prices and drives adoption
“If you're spending up a bunch of miners, you're actually providing a lot of computation resources To the network. So for a network that works, that has the right incentives in place the network will leverage the access capacity that you provide to the network …”